House Committee Gives Wind PTC Consideration, Mexico Puts Together Climate Change Legislation

A Ways and Means Subcommittee panel in the House of Representatives will begin discussing expiring tax provisions today, with the likely conclusion that it will open the door for debate on the wind-energy tax credits that environmentalists and renewable-energy companies seek to extend. Several members of the Select Reveune Measures subcommittee represent states where the wind-energy has a strong foothold, so while its not guaranteed that the tax credit extension comes up, these representatives will likely push the issue. And while the credit has generally received wide bipartisan support and is crucial to wind sector development, as evidenced by past industry slumps during credit lapses, the coming election and wider debates on tax policies and other expiring tax code provisions has caused the outcome to be in question at this point in the debate.

Mexican President Felipe Calderon has signed into law climate change legislation that will bind the country to significant cuts in greenhouse gas emissions and increase the use of renewable energies.  The law, which sets targets for emissions cuts as well as for the expansion of renewable energies, is only the second of its kind in the world after Great Britain and represents the first initiative of a developing country to commit to such targets.  Mexico is ranked 12th among the world's top carbon-emitting countries, producing 443.61 million metric tons of CO2 every year.   Of course, the world's largest carbon emitters are China and the U.S. accounting for over 40 percent of global carbon emissions.